American Vanguard Corp Files 2023 Annual Report (10-K)
Ticker: AVD · Form: 10-K · Filed: Mar 28, 2024 · CIK: 5981
Sentiment: neutral
Topics: 10-K, Annual Report, American Vanguard Corp, Financials, SEC Filing
TL;DR
<b>American Vanguard Corp has submitted its 2023 10-K annual report, detailing financial performance and asset information for the fiscal year ending December 31, 2023.</b>
AI Summary
AMERICAN VANGUARD CORP (AVD) filed a Annual Report (10-K) with the SEC on March 28, 2024. American Vanguard Corp filed its 10-K report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. Key financial elements such as Retained Earnings, Common Stock, and Valuation Allowance of Deferred Tax Assets as of December 31, 2023, are detailed. The report includes information on various asset types, including Customer Lists, Building and Building Improvements, and Machinery and Equipment. Specific business segments like Automotive and geographical regions such as Central and South America are referenced in relation to financial data.
Why It Matters
For investors and stakeholders tracking AMERICAN VANGUARD CORP, this filing contains several important signals. This 10-K filing provides a comprehensive overview of American Vanguard Corp's financial health and operational activities for the past fiscal year, crucial for investors assessing the company's stability and growth prospects. The detailed breakdown of assets, liabilities, and equity, along with segment-specific data, allows stakeholders to understand the company's performance drivers and potential risks.
Risk Assessment
Risk Level: low — AMERICAN VANGUARD CORP shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.
Analyst Insight
Review the detailed financial statements and segment performance within the 10-K to identify any trends or specific areas of concern or opportunity for American Vanguard Corp.
Key Numbers
- 2023-12-31 — Valuation Allowance Of Deferred Tax Assets (us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember)
- 2021-12-31 — Retained Earnings (us-gaap:RetainedEarningsMember)
- 2020-12-31 — Common Stock (us-gaap:CommonStockMember)
- 2023-12-31 — Customer Lists (Minimum) (srt:MinimumMember us-gaap:CustomerListsMember)
- 2022-12-31 — Automotive Segment (avd:AutomotiveMember)
- 2023-12-31 — Employee Stock Purchase Plan (avd:EmployeeStockPurchasePlanMember)
- 2023-12-31 — Treasury Stock Common (us-gaap:TreasuryStockCommonMember)
- 2022-12-31 — Construction In Progress (us-gaap:ConstructionInProgressMember)
Key Players & Entities
- AMERICAN VANGUARD CORP (company) — FILER
- 20231231 (date) — CONFORMED PERIOD OF REPORT
- 20240328 (date) — FILED AS OF DATE
- 0000005981 (company) — CENTRAL INDEX KEY
- 2870 (industry) — STANDARD INDUSTRIAL CLASSIFICATION
- DE (state) — STATE OF INCORPORATION
- 949-260-1200 (phone) — BUSINESS PHONE
- AEROCON INC (company) — FORMER COMPANY
FAQ
When did AMERICAN VANGUARD CORP file this 10-K?
AMERICAN VANGUARD CORP filed this Annual Report (10-K) with the SEC on March 28, 2024.
What is a 10-K filing?
A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by AMERICAN VANGUARD CORP (AVD).
Where can I read the original 10-K filing from AMERICAN VANGUARD CORP?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by AMERICAN VANGUARD CORP.
What are the key takeaways from AMERICAN VANGUARD CORP's 10-K?
AMERICAN VANGUARD CORP filed this 10-K on March 28, 2024. Key takeaways: American Vanguard Corp filed its 10-K report for the fiscal year ending December 31, 2023.. The filing covers the period from January 1, 2023, to December 31, 2023.. Key financial elements such as Retained Earnings, Common Stock, and Valuation Allowance of Deferred Tax Assets as of December 31, 2023, are detailed..
Is AMERICAN VANGUARD CORP a risky investment based on this filing?
Based on this 10-K, AMERICAN VANGUARD CORP presents a relatively low-risk profile. The filing is a standard annual report (10-K) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.
What should investors do after reading AMERICAN VANGUARD CORP's 10-K?
Review the detailed financial statements and segment performance within the 10-K to identify any trends or specific areas of concern or opportunity for American Vanguard Corp. The overall sentiment from this filing is neutral.
Filing Stats: 4,375 words · 18 min read · ~15 pages · Grade level 13.9 · Accepted 2024-03-27 21:10:24
Key Financial Figures
- $0.10 — nge on which registered Common Stock, $0.10 par value AVD New York Stock Exchan
- $17.87 — tock on the New York Stock Exchange was $17.87 per share. For purposes of this calcula
- $21,833 — remain compliant. The Company expensed $21,833, $18,081 and $16,643, during 2023, 2022
- $18,081 — ompliant. The Company expensed $21,833, $18,081 and $16,643, during 2023, 2022 and 2021
- $16,643 — e Company expensed $21,833, $18,081 and $16,643, during 2023, 2022 and 2021, respective
Filing Documents
- avd-20231231.htm (10-K) — 2846KB
- avd-ex4_2.htm (EX-4.2) — 6KB
- avd-ex10_21.htm (EX-10.21) — 8KB
- avd-ex10_22.htm (EX-10.22) — 63KB
- avd-ex10_23.htm (EX-10.23) — 65KB
- avd-ex21.htm (EX-21) — 55KB
- avd-ex23_1.htm (EX-23.1) — 4KB
- avd-ex23_2.htm (EX-23.2) — 3KB
- avd-ex31_1.htm (EX-31.1) — 13KB
- avd-ex31_2.htm (EX-31.2) — 13KB
- avd-ex32_1.htm (EX-32.1) — 8KB
- img97494780_0.jpg (GRAPHIC) — 352KB
- 0000950170-24-037524.txt ( ) — 14141KB
- avd-20231231.xsd (EX-101.SCH) — 1796KB
- avd-20231231_htm.xml (XML) — 2792KB
Business
Business 2 Item 1A.
Risk Factors
Risk Factors 9 Item 1B. Unresolved Staff Comments 15 Item 1C. Cybersecurity 15 Item 2.
Properties
Properties 15 Item 3.
Legal Proceedings
Legal Proceedings 16 Item 4. Mine Safety Disclosures 16 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 17 Item 6. Reserved 18 Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 7A.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 26 Item 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 27 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 60 Item 9A.
Controls and Procedures
Controls and Procedures 60 Item 9B. Other Information 62 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 62 PART III Item 10. Directors, Executive Officers and Corporate Governance 63 Item 11.
Executive Compensation
Executive Compensation 63 Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 63 Item 13. Certain Relationships and Related Transactions, and Director Independence 63 Item 14. Principal Accountant Fees and Services 63 PART IV Item 15. Financial Statement, Schedule, and Exhibits 64 Item 16. Form 10-K Summary 68 SIGNATURES AND CERTIFICATIONS 69 1 AMERICAN VANGUARD CORPORATION (Dollars in thousands, except per share data) PAR T I Unless otherwise indicated or the context otherwise requires, the terms "Company," "we," "us," and "our" refer to American Vanguard Corporation and its consolidated subsidiaries ("AVD"). Forward-looking statements in this report, including without limitation, statements relating to the Company's plans, strategies, objectives, expectations, intentions, and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties. (Refer to Part I, Item 1A, Risk Factors and Part II, Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operation, included in this Annual Report.) All dollar amounts reflected in the consolidated financial statements are expressed in thousands, except per share data.
B USINESS
ITEM 1 B USINESS American Vanguard Corporation ("AVD") was incorporated under the laws of the State of Delaware in January 1969 and operates as a holding company. Unless the context otherwise requires, references to the "Company" or the "Registrant" in this Annual Report refer to AVD. The Company conducts its business through its principle operating subsidiaries, including AMVAC Chemical Corporation ("AMVAC") for its domestic business and AMVAC Netherlands BV ("AMVAC BV") for its international business. The operating subsidiaries in the U.S. include: AMVAC, GemChem, Inc. ("GemChem"), Envance Technologies, LLC ("Envance"), TyraTech Inc. ("TyraTech") and OHP Inc. ("OHP"). Internationally, the Company operates its business through the following subsidiaries: AMVAC BV, AMVAC Hong Kong Limited ("AMVAC Hong Kong"), AMVAC Mexico Sociedad de Responsabilidad Limitada ("AMVAC M"), AMVAC de Costa Rica Sociedad de Responsabilidad Limitada ("AMVAC CR Srl"), Grupo AgriCenter (including the parent AgriCenter S.A. and its subsidiaries) ("AgriCenter"), AMVAC do Brasil Representcoes Ltda ("AMVAC do Brasil"), AMVAC do Brazil 3p LTDA ("AMVAC 3p"), American Vanguard Australia PTY Ltd ("AVD Australia"), AgNova Technologies PTY Ltd ("AgNova"), and the Agrinos group entities ("Agrinos"). The Company has one reportable segment. AMVAC is a California corporation that traces its history from 1945 and is a manufacturer of chemical, biological and biorational products that develops and markets solutions for agricultural, commercial and consumer uses. It synthesizes and formulates chemicals and ferments and extracts microbial products for crops, turf, ornamental plants, and human and animal health protection. These products, which include insecticides, fungicides, herbicides, soil health, plant nutrition, molluscicides, growth regulators, soil fumigants, and biorationals, are marketed in liquid, powder, and granular forms. AMVAC primarily synthesizes, formulates, and distributes its ow